Insider Buying: Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) Major Shareholder Buys 45,710 Shares of Stock

Pioneer Municipal High Income Fund, Inc. (NYSE:MHI) major shareholder Saba Capital Management, L.P. purchased 45,710 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was purchased at an average cost of $9.20 per share, with a total value of $420,532.00. Following the purchase, the insider now owns 3,498,933 shares in the company, valued at approximately $32,190,183.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Thursday, May 23rd, Saba Capital Management, L.P. bought 3,538 shares of Pioneer Municipal High Income Fund stock. The shares were bought at an average cost of $8.88 per share, with a total value of $31,417.44.
• On Wednesday, May 15th, Saba Capital Management, L.P. bought 11,105 shares of Pioneer Municipal High Income Fund stock. The shares were bought at an average cost of $8.91 per share, with a total value of $98,945.55.
• On Friday, May 3rd, Saba Capital Management, L.P. bought 4,765 shares of Pioneer Municipal High Income Fund stock. The shares were bought at an average cost of $8.64 per share, with a total value of $41,169.60.

Pioneer Municipal High Income Fund Stock Down 0.2 %

Pioneer Municipal High Income Fund stock traded down $0.02 during trading hours on Monday, reaching $9.16. 16,700 shares of the company were exchanged, compared to its average volume of 69,113. The stock has a 50-day moving average of $9.00 and a 200 day moving average of $8.79. Pioneer Municipal High Income Fund, Inc. has a 12 month low of $6.93 and a 12 month high of $9.25.

Pioneer Municipal High Income Fund Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 19th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.42 dividend on an annualized basis and a yield of 4.59%.

Institutional Investors Weigh In On Pioneer Municipal High Income Fund

Large investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC boosted its position in Pioneer Municipal High Income Fund by 167.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 49,760 shares of the investment management company’s stock worth $429,000 after purchasing an additional 31,163 shares during the period. Gridiron Partners LLC acquired a new position in shares of Pioneer Municipal High Income Fund during the fourth quarter worth approximately $872,000. Raymond James & Associates lifted its holdings in shares of Pioneer Municipal High Income Fund by 3.0% during the fourth quarter. Raymond James & Associates now owns 69,976 shares of the investment management company’s stock worth $604,000 after buying an additional 2,067 shares during the last quarter. Tyche Wealth Partners LLC acquired a new position in shares of Pioneer Municipal High Income Fund during the fourth quarter worth approximately $520,000. Finally, Advisor Resource Council acquired a new position in shares of Pioneer Municipal High Income Fund during the fourth quarter worth approximately $292,000.

Pioneer Municipal High Income Fund Company Profile

Pioneer Municipal High Income Fund, Inc is a closed-ended fixed income mutual fund launched and managed by Pioneer Investment Management, Inc It invests in the fixed income markets of the United States. The fund primarily invests in municipal securities. It seeks to invest in securities across the credit rating and maturity spectrum.